Talent Management

TALENT MANAGEMENT

Course Objectives

Technological transition has transformed talent management practices. Paradigm shift in human resource management has triggered the need to talk about talent management throughtechnology. Demographic dividend and digital revolution has thrown many challenges, nowit’s high time to integrate talent management with technology. For smooth transition of students from campus to corporate portal, it is indispensible to equip them with the latest catch words,tools,technology so this course intends to talk about all the innovative concept on the organizational set up with human resource perspective.

Talent Management is management of employees during employment lifecycle in an organization. All the human resource functions from recruitment to retirement come under the scope of talent management. It starts from manpower planning, attraction, recruitment, selection, on boarding, and training of employees before they become “performers” in a given organization. Later in the lifecycle, retention, compensation, and ultimately, termination, complete the lifecycle. To manage talent, organizations deploy a range of tools, techniques.In this course, we will learn technology as a facilitator of talent management.

Core Components:

Talent management through technology, Big Data, Predictive Analytics, LearningAnalytics. Social Mobile Analytics and Cloud in HR, Employer Branding, Web 2.0 Technology, Gamification, Crowd Sourcing, Talent Management, Blue Ocean Strategy, etc.

Course Components:

The course is structured into fifteen learning modules. Each learning module has references for detail study .Tailored guidance and support for the session’s assignments will also be provided.

Course Outcomes:

By the completion of this course, you should be able to know technology and techniques for managing talent.

Resources:

Web sitewill be the primary venue for communication between the instructor and students. SHRM,Forbes,People Matters,Harvard Business Review links can be accessed .

Conduct Code:

• Quizzes, assignments and the final Exams.
• Academic integrity is required to be maintained at all levels.
• Acknowledgement of the research and ideas of scholaris mandatory to mention.

Grading

Grading will be summarized after evaluation of

1)Quizzes based on readings, videos, assignments

2)Written Assignment

3)Assessment Interview Report

4)Module Final Exam

• Outstanding performance will be rewarded

• Unsatisfactory performance will be motivated and enriched based on the specific requirements.

Feedback and Grades

Constructive Feedback will be provided on a regular basis for further improvement in performance. Performancetrack of the course will be compiled within one week and get uploaded.

INDEX

CHAPTERS / TOPICS
1 / Employer Branding for Talent Management-Transformed by Technological Innovation of Big Data and HR Analytics
2 / Talent Analytics and Progressive Human capital Management -Big data and Predictive Analytics a facilitator
3 / HR Dimension of Employer Branding-Impact by Management Revolution and Digital Innovation of Big Data
4 / Technology for Talent Management
5 / Millennial’s Recruitment – Facilitated by Web 2.0 Technology
6 / Organizational Communication Strategy for Employer branding for Talent Attraction
7 / Prospective Employee Selection Decision CyberVetting,Electronic Footprint
8 / Learning Landscape Transformation by Learning Analytics
9 / Gamification Strategies at the Workplace for GEN NEXT
10 / Cyber Loafing and Workplace Productivity
11 / Gen Z-Children of Digital Revolution Transforming Social Landscape
12 / Integrated Cultural Framework a Facilitator of Sound Organizational Culture
13 / Managerial Competencies Development- Study of Emotional, Intelligence, Spiritual Quotients to mange changing time
14 / Leveraging SMAC for Employer Branding to be an Employer of Choice.
15 / Value Innovation through Blue Ocean Strategy: Tools and Framework

CHAPTER 1

Employer Branding for Talent Management-Transformed by Technological Innovation of Big Data and HR Analytics

Vignette

Data has penetrated into every functional area of business and industry. “Internet of things" "cloud computing" and “big data" are buzzword of Technology which is driving management. Technology facilitates transformation of HR systems and practices dimension of employer branding. Digital transformation of human resource practices is the need of the hour. Digitization of Human Resource is prompting paradigm shift in employer branding domain. Big Data and People analytics are reinventing HR and driving innovation in an extraordinary manner. Continuous Innovation comes from people. Business decisions and innovation is made by the employees so developing innovators by recruiting great managers is the challenge for companies. People Analytics facilitates accurate people management decisions. The most important currency for business decision making process is data. Google is the world’s largest data driven company. Fortune Magazine and the Great Place to Work Institute named Google the 2014 “Best Company Work For.” This marks fifth time at the top of the list. Google People Analytics approach are powerful and breathtaking.Organiations are investing billions dollars in formulating and implementing strategies.Facebook acquired Whtasapp;google bought Nest.Data paradigm bringing Radical shift in employer employee relations which influence employer branding. Wise use of big data and analytics can enable hr role as a value driver, competitive player, strategic partner, Game changer at organizational landscape. This is an exploratory study and main purpose of the study is to identify the role of big data and hr analytics in Employer Branding from the perspective of human resource systems and practices dimension. Survey Reports, Research insights of organizations like KPMG, Accenture, PWC, Oracle, Deloitte, Mc Kinsey, Capgemini, IBM, and Google have been refereed. Research articles have also been explored extensively on the topic and sub topics to compile the content and conclude this article.

Key-words: Big Data, data analytics, data-driven science, digital humanities, Digital HR,Technology driven HR,War for Talent,Talent Management, Social Media,HR Decision Making.

Intoduction

Big Data refers to datasets whose size is beyond the ability of typical database software to capture, store, manage and analyze. Currently, it can range from a few dozen terabytes to multiple petabytes, according to a recent report by McKinsey and Co.The International Data Corporation (IDC) describes big data as “the new generation of technologies and architectures designed to extract value economically from very large volumes of a wide variety of data by enabling high-velocity capture, discovery and/or analysis.” (Villars, Eastwood & Olofson, 2011.) "Big data are high volume, high velocity, and/or high variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization."( Beyer & Laney, 2012. )

Employer branding position an organization as an employer of choice to attract, recruit, engage and retain top talent.The term ‘Employer Branding’ was coined by Simon Barrow in October 1990.Minchington (2005) defines employer brand as "the image of your organization as a 'great place to work’”. Employer branding has become a top priority for organizations in their quest to win the war for talent. The war for talentterm is coined bySteven HankinofMcKinsey & Company in 1997.Employer brand is an expression of organization’s personality and creates a platform for company to communicate employer value proposition. The concept of E.B is increasingly gaining interest in the academic (Ambler & Barrow, 1996; Lievens, 2007) as well as the practitioners’ domain (reports from conference Board, CIPD etc.).Human resources analytics, also called talent analytics, is the application of sophisticated data mining and business analytics (BA) techniques to human resources (HR) data(Margaret Rouse; WhatIs.com).According to McKinsey & Co. Big Data is “the next frontier for innovation, competition and productivity”. The impact of Big Data gives not only a huge potential for competition and growth for individual companies, but the right use of Big Data also can increase productivity, innovation, and competitiveness for entire sectors and economies.

Relevance of the Study

Gartnerexpects the market for BigData and analytics to generate $3.7 Trillion in products and services and generate 4.4 million new jobs by 2015. While most of the talk is about applying Big Data to marketing and consumer businesses, there is an even bigger opportunity to apply Big Data to Human Resources. (We call itTalent Analytics now renamed to People Analytics).Big data and workforce analytics is hot topic in hr. To use the words of an eQuest whitepaper, for human resources in particular, big data marks a "historic opportunity" to make the "most rigorously evidence-based human-capital decisions ever". Now unpredictable business of human interactions can be data-driven.

The amount of available data has exploded because of new social behaviors, societal transformations as well as the vast spread of software systems. Big Data is an important driver for innovation and growth that relies on disruptive technologies such as Cloud Computing, Internet of Things and Analytics. Data is constantly being generated, not only by use of internet, but also by companies generating big amounts of information coming from sensors, computers and automated processes. Significant Internet players like Google, Amazon, Facebook and Twitter were the first facing these increasing data volumes “at the internet scale” and designed ad-hoc solutions to be able to cope with the situation.

Real-time information from corporate portals, job portals, professional networking sites LinkedIn, social media twitter, face book, images, sensors, web etc generate lot of data about current and prospective employee and employer. This data can facilitate hr analytics on different dimensions of hr functions. It will help in understanding employees, credibility, expectations, aspirations of current and prospective employees. Similarly current and prospective employees come to know about their potential employer. It helps in formulating right hr strategy which is the most important component of employer branding based on data facts and figure.HR and talent management professionals must equip them to accept the big data challenges.HR Analytics is required to be operational for all functions people management strategy.

HR leaders are required to formulate proper employer branding framework and appropriate hr policies to be a strategic partner in change management and organizational growth.HR Systems and processes are one of the important dimension of Employer Branding which is getting influenced by Big Data.

Background of the Study

Businesses are transforming in shorter and faster innovation cycles. Transformation means listening the calls for the moment and being able to re-think re-discover and re-invents business strategy on the fly. Organizations need to re- orient their employer branding strategy as per the marketplace pace to adapt people operation according to new business models .Strategic hr planning formulation execution and adaptation in innovative context will drive transformation and profitability.

The goal of of employer branding is not just to to get ahead of the curve, but to stay ahead. To sustain a competitive advantage it is imperative to attract and retain best talent . Human capital leverages all other forms of intangible assets. HR is considered as an organizational backwater and has struggled for credibility, viewed as have little or no impact on company strategy or success. But the digital innovations have derived this knowledge-based economy and have necessitated the need to paradigm shift in employer branding. Hr professionals can take smarter accurate decisions by applying decision science approach. This will end the era of decision making based on hunch, gut and intuition.

Organizations must recruit data scientists who can find patterns in very large data sets and translate them into useful business information. President of marketing, project heads spend billions of dollars on quantitative and qualitative analysis before launching a new marketing campaign or project. Talent management decisions of attraction, recruitment, maintenance, selection, promotion, appraisal, retention etc are being made on different parameters as per industry benchmarking practices. Human Biasness bound to creep even in 360 appraisal .Companies are thinking of mathematical people operation strategy all hr functions must be done by programming, algorithm as being done by Google Great Place to Work.

Objectives of the Research

1. To understand big data concept influence on different hr functions
2. To relate big data concept with Hr Analytics
3. To explore industry practices research and expert insights on Hr Analytics as a strategy for Employer Branding
4. To know about companies which are offering different types of Technological Hr Tools Training and Consultancy to embrace this change

Research Methodology

This paper is exploratory in nature and qualitative study of existing researches have been explored to gain insights. Content analysis of corporate websites, white papers and research insights of prominent consulting companies along with Survey Reports have been accessed. Reports accessed from McKinsey KPMG,Accenture,PWC,Oracle,Deloitte,Capgemini,Aon Hewitt,Mercer etc. have been explored to gather data facts and figures.

Extensive research of literature review from academic articles, papers and Journals have also been done. Industry professionals are feeling the heat on recruitment training and retention front pertaining to big data professionals. So industry insights and their leaders thought have been extensively considered and taken into account to conclude the findings.

HR Analytics

Human resources analytics provide exact approach to effectively manage all employee operations so that HR can be considered as a profit center and strategic partner in achieving organizational goals According to Aditya Narayan Mishra, president staffing, Randstad India, puts it, "Analytics helps HR find the blind spots in the company - identify departments that are doing better and what influences success and how it can be replicated elsewhere in the company."As per Rajiv Krishnan, partner and leader, people & organization Practice, EYsays"A company can map the correlation between the recruitment cost and customer satisfaction scores, for instance. It can apply modeling with different kinds of weight age and predict things like which departments the new leaders are coming from," Predictive nature of data analytics is transforming the role of HR professionals for the better. "Earlier, when CEOs and CFOs talked, the conversation was based on solid data. B Sivaramakrishnan, managing consultant, Hay Group, India, "By using data analytics in work force management, HR can help companies maximize return on manpower investment. For instance, in manufacturing the impact could be 10-12 per cent of total sales while in services industry, due to its people intensive nature, the impact on ROI could be 70 to 80 per cent." In his view, the recruitment cost in a company is on an average 15 per cent of an employee's cost to the company and typically 12 to 15 per cent of an employee's salary is training cost.

HR is able to spot trends, make predictions, create a roadmap to succeed and have conversations with other C-suite members of the company based on solid facts," says Shaswat Kumar, partner, Aon Hewitt. In his view, what is critical is the HR's role to ask the relevant questions failing which data analytics would be rendered irrelevant. "The role of HR is important and it has to start with the right questions and then analyze the trends correctly to predict the trends,"addsKumar.Employee engagement. According to a Hay Group study, The Business Case for Effective Employee, by investing in engagement and enablement of employees, companies can reduce turnover rates by 54 per cent and increase revenue growth by 4.5 times. Talent acquisition and talent management need to dovetail, and recruitment should be tied to business results that the organization is aiming for. Manning is a critical parameter," says Pankaj Bansal, co-founder and CEO, People Strong. But to make this work, HR has to make the link among the data about the organization’s needs and use that information to implement a predictive analytic strategy.

According to Hirak Kayal, vice-president, Applications Outbound Product Management, Oracle India, there are four engagement points with respect to workforce management. "First, understand the behavior and body language of the candidate you are evaluating. Find out if the prospective hire is a cultural fit. The second is workforce modeling. It is a very unstructured and manual process and depends on your organization’s objective. The next step is compensation planning. There is lot of structural analysis possible by using the company's internal data. The challenge here is if you want to benchmark the employee salary vis-a-vis others in the markets. That's when you need predictive analytics."In his view, performance evaluation is the most important engagement point and predictive analytics can help them treat each employee carefully. It can even predict the impact of performance appraisal on the employee - whether it will increase the possibility of her leaving or whether it will help improve her engagement score. And when an organization is more precise in finding the people with the skills it needs, it can reduce its cost-per-applicant and cost-per-hire. So there are these psychometric assessments used by companies and offered by talent assessment firms such as Wheel box to understand what skills a candidate requires before the company hires him.